At a campaign event in New Hampshire, Republican presidential candidate and Florida Governor Ron DeSantis called out the Biden Administration for what he perceived as a “war” on Bitcoin BTC/USD and cryptocurrencies.
What Happened: DeSantis vowed to bring an end to such policies if elected as President, emphasizing his support for Americans to have the freedom to invest in digital assets.
“Biden’s war on bitcoin and cryptocurrency will come to an end when I am president,” DeSantis said “We are going to allow Americans to invest in things like bitcoin and cryptocurrency. No one is forcing you to do it, if you want to do it, you can do it.”
DeSantis’s comments came amid recent charges laid by the Securities and Exchange Commission (SEC) against prominent cryptocurrency exchanges Coinbase and Binance. Though the SEC commissioners are appointed by the President, it’s important to note that the agency operates independently from the government.
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Why It Matters: DeSantis criticized the current administration’s consideration of a Central Bank Digital Currency (CBDC). “As President, on day one, CBDC goes into the trash can—we’re not going to allow it,” he firmly stated.
In contrast to decentralized cryptocurrencies in the private market, a CBDC is directly issued by a country’s central bank and can be programmed to restrict certain transactions. DeSantis took a stand against CBDCs by signing state-level legislation in May that banned the issuance of a federal CBDC within the borders of Florida, characterizing it as a tool for financial surveillance.
Meanwhile, President Biden’s approach to cryptocurrencies has thus far been somewhat ambiguous.
Biden in May said that he will not agree to a budget deal that favors wealthy tax cheats and cryptocurrency traders over struggling Americans. In a press conference, he called out Republican lawmakers for protecting wealthy tax cheats and cryptocurrency traders while putting food assistance at risk for nearly one million Americans.
DeSantis, who is vying to catch up to former President Donald Trump in the early days of the presidential contest, aims to leverage his pro-crypto views to set himself apart.
Price Action: At the time of writing, BTC was trading at $28,923 down 1.41% in the last 24 hours, according to Benzinga Pro.
Photo Courtesy: Shutterstock.com
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